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Bitwise Asset Management to Close Two ETFs

On May 1, 2026, Bitwise Asset Management, a prominent player in the crypto asset management sector, announced plans to shut down two of its popular exchange-traded funds (ETFs): the Bitwise Trendwise BTC/ETH and Treasuries Rotation Strategy ETF (BTOP) and the Bitwise Web3 ETF (BWEB). This move is a response to evolving market dynamics and aims to streamline their offerings to better serve investors.

Details of the Closure

The last day to purchase shares of BTOP and BWEB will be May 21, 2026, with trading ceasing on the same day. The final net asset value (NAV) calculations will take place on May 28, 2026, and the liquidation process is set for May 29, 2026. Shareholders who do not liquidate their holdings by the specified date will automatically have their shares redeemed for cash at the NAV, facilitated through their respective brokers.

This strategic decision illustrates Bitwise's commitment to maintaining an efficient portfolio by transitioning away from products that may no longer align with their investment strategies. As a leader in the realm of crypto assets, the company aims to adapt to market conditions while ensuring that their clients are effectively informed of any potential impacts on their investments.

About Bitwise Asset Management

With $11 billion in client assets, Bitwise Asset Management has embedded itself as a significant force in crypto asset management. The firm boasts over 70 investment products, covering a broad spectrum from ETFs to hedge funds, managed by a dedicated team of over 200 professionals. They've celebrated an impressive eight-year history supporting a wide array of investors, including private wealth teams, institutional entities, and family offices.

As the cryptocurrency and blockchain landscape continues to evolve, Bitwise recognizes the importance of offering robust and innovative investment solutions. Their experience and extensive research enable them to pivot when necessary, reflecting a proactive approach to investment management.

Understanding the Market Context

The decision to close the BTOP and BWEB ETFs comes amid a broader environment where crypto assets face increased scrutiny and volatility. Investors are becoming more discerning, navigating a landscape marked by significant price fluctuations and emerging regulatory frameworks, and companies like Bitwise must remain agile in response.

Offering ETFs tied to cryptocurrencies and innovative technologies like Web3 has been part of Bitwise's growth strategy, but the firm is aware of the reality that some offerings may not resonate with investors in the changing market landscape. By closing these ETFs, Bitwise aims to allocate resources more effectively towards strategies with higher client value.

Risks and Considerations

It is essential for investors to consider the inherent risks of investing in ETFs and crypto assets. Market volatility, potential loss of principal, and the unique characteristics of crypto trading pose challenges that demand careful consideration prior to investment. Investors seeking detailed insights should consult the fund's full prospectus to understand the objectives, risks, and expenses before making decisions.

In its journey forward, Bitwise Asset Management remains focused on leveraging opportunities while safeguarding investor interests. As they navigate these significant shifts, their commitment to transparency and informed investment remains steadfast, aligning with the needs and expectations of an evolving client base.

Whether you are a seasoned investor or new to the asset management world, staying informed about such developments is vital in making prudent investment choices. For further insights and updates, potential and current investors are encouraged to keep a close watch on Bitwise’s announcements and portfolio adjustments.